People - June 14, 2013• BP has appointed Andy Holmes as president of BP Australia. He succeeded Paul Waterman, who was appointed head of BP’s global lubricants business and will be based in the UK.•...
Jun 14, 2013
‘We had record investment,’ boasts IranIran touted a record $25 billion invested into the country’s upstream sector last year, such money pouring into the development of the country’s resources despite sanctions. Managing Director...
Jun 13, 2013
US EIA upsizes global shale oil & gas estimatesTechnically recoverable shale resources from 41 countries have grown 10% over the last two years, according to the US Energy Information Administration. The last assessment in 2011 only covered...
Jun 13, 2013
Range Resources’ low-cost structure is paying offRange Resources has generated a 30% decline in unit costs from $4.30 in 2008 to $3.00 in 2012. Prices in all categories dropped over the five-year period, but reserve replacement costs fell from...
Jun 12, 2013
Analysts see $80 crude & $4.00 gas as triggersTaking the view that even ultradeepwater and Arctic developments should be economic at $80 crude, Oppenheimer analyst Fadel Gheit says that high US production and diminished demand will pressure oil...
Jun 11, 2013
Euro majors undervalued, says Morgan analystA JP Morgan Cazenove analyst contends that European oil majors are undervalued as a sector, having underperformed the equivalent US firms by over 30% since the start of 2010, some of which is can...
Jun 11, 2013
Africa Briefs - June 14, 2013• HRT spudded the Murombe-1, its second offshore well in its back-to-back exploration campaign in the Walvis Basin offshore Namibia. The well is 137 miles northwest of Walvis Bay in water depth...
Jun 14, 2013
Asia Briefs - June 14, 2013• Indonesia opened a rights tender for 21 oil and gas exploration blocks on May 17, two of which are for unconventional gas concessions on the islands of Borneo and Sumatra. The auction...
Jun 14, 2013
FSU Briefs June 14, 2013• Balin Energy’s first completed vertical well on the Northern Block offshore Latvia failed to find hydrocarbons. The company drilled a 4,790 ft exploration well with semisub Ocean Normad....
Jun 14, 2013
Latin America Briefs june 14, 2013• Petroamerica has started drilling the La Casona-2 appraisal well on the El Eden Block in the Llanos Basin onshore Colombia. The well is targeting the Gacheta and Une formations that tested...
Jun 14, 2013
North Sea/Western Europe Briefs June 14, 2013• Lundin Petroleum plugged and abandoned wildcat well 7/4-3 as a dry hole. The well was drilled 15 miles north of the company’s operated Brynhild field in the North Sea offshore Norway, and...
Jun 14, 2013
South Pacifc Briefs June 14, 2013• Australia’s natural resources and mines ministry said six areas in central, southwest and far-north Queensland will be auctioned and the tender process will close on November 22. The areas...
Jun 14, 2013
Capital Markets Briefs June 13, 2013• Eni sold more than 55 million ordinary shares of Portugal’s Galp Energia for $886 million via a private placement managed by Goldman Sachs and Mediobanca. The sale represents nearly 6.7% of...
Jun 13, 2013
Financing Briefs - June 13, 2013• International energy trader Vitol Group renewed and increased the one-year revolving credit facility for its Singapore-based Vitol Asia unit. The new facility closed at $2.21 billion, an...
Jun 13, 2013
People Briefs June 13, 2013• Comet Ridge appointed nonexecutive director Christopher Pieters as commercial director• Ithaca Energy appointed Jannik Lindbæk as non-executive director. He previously served as...
Jun 13, 2013
Drilling & Exploration Briefs - June 12, 2013• Aurora Oil & Gas started drilling on its recently acquired operated Eagle Ford acreage near Sugarkane field. The JP Heard Bower-19H well was spudded on May 31 and will be followed by an...
Jun 12, 2013
Legal & Regulatory Briefs - June 12, 2013• The state of Nebraska raised $951,000 in oil and gas lease sales at the May 14 auction. Most of the leases are located in Dundy, Chase, Red Willow and Hitchcock Cos. in the southwest corner of...
Jun 12, 2013
People Briefs - June 12, 2013• BP appointed Paul Waterman head of global lubricants. Andy Holmes has been appointed president of BP Australia.• Black Elk Energy Offshore Operations hired Bruce Koch as CFO. He...
Jun 12, 2013
Production & Reserves Briefs - June 12, 2013• Daybreak Oil & Gas tested two wells at its East Slopes project in Kern Co., California. The Bear-5 and Bear-6 wells (31.3% NRI) tested at 25 bopd each. Also at East Slopes, the Sunday-6 was...
Jun 12, 2013